Michael Ahern TD, Minister for Trade & Commerce, has announced his intention to increase the statutory audit exemption limit to €7.3m, the maximum level allowed under EU legislation
The Council of the EU has adopted a Directive updating, and introducing additional EU rules on the audit of company accounts, aimed at reinforcing the reliability of company financial statements.
The Authority is inviting comments from interested parties as to whether the term 'accountant' should be afforded legal protection under the Companies Acts.
The three new bodies are the Association of International Accountants (AIA), the Chartered Institute of Management Accountants (CIMA) & the Chartered Institute of Public Finance & Accountancy (CIPFA).
The Minister for Trade and Commerce, Mr. Michael Ahern, T.D. has signed S.I. 56 of 2006 into law.
The Authority has appointed Ms Helen Hall, FCA, as Head of Regulatory & Monitoring Supervision.
The statutory Board of the Irish Auditing and Accounting Supervisory Authority (IAASA) held its first meeting today in Dublin.